Commercial bank group leads steep fall in Sensex
Himalayan News Service
Kathmandu, May 7:
After a brief recovery last week, share trading at Nepal Stock Exchange (Nepse) suffered a huge loss of over six points. The Nepse index, which had gained 0.26 point last week, dropped by 6.13 points this week.
Weekly share trading at the country’s sole secondary market opened with its index at 294.79 points at the beginning, which went down to close at 288.66 points on the closing day.
Despite leading groups like insurance, finance and development bank registering a healthy growth in their respective indices, a massive fall in commercial
bank group’s index caused overall fall of the Nepse index, according to the weekly share trading analysis. The Manufacturing, other and trading groups remained constant.
According to Nepal Stock Exchange Ltd, the total weekly transaction value and number of shares traded also decreased compared to the last week. This week’s total transaction value stood at Rs 52,416,276 from 2,383 transactions of 148,497 share units. However, last week’s total trading value was Rs 72,671,235 through 2,338 transactions of 195,241 shares.
Among gainers, the insurance group posted a healthy growth of 16.55 points. The group’s index, which had also registered growth last week, closed at 333.09 points on the closing day. The group opened at 316.54 points on Sunday. The finance group also recorded a growth of 3.38 points. The group opened at 212.61 points on Sunday and went up to close at 215.99 points. The group had registered growth last week, too.
Continuing the last week’s growth trend, the development bank group posted a growth of 6.23 points. The group’s index that opened at 238.82 points climbed up to 245.05 points.
The hotel group, which had remained constant last week, secured a growth of 0.77 point. The Nepse index of the group reached 177.81 points from an opening of 177.04 points.
However, the commercial bank group, which is the largest scrip at Nepse, suffered a heavy loss of 11.80 points that led to overall fall of the index. The group that opened at 321.52 points on Sunday tumbled to 309.72 points on the closing day. The group lost last week, too.
The manufacturing group, the other group and the trading group, however, remained constant at 279.80 points, 329.28 points and 116.33 points throughout the week. All the groups, except other group, had remained static last week, too.
The commercial bank group continued to dominate the Nepse floor, though it suffered a heavy loss. The group captured the largest chunk of the total share trading. It secured 82.28
per cent of the total share trading followed by the insurance group at 9.97 per cent. The finance group was in the third position with 6.84 per cent.
The development bank group contributed 0.71 per cent; the manufacturing and the trading group each cornered 0.09 per cent. The hotel group had a mere share of 0.01 per cent.
Lumbini Bank Ltd topped the race in terms of number of transactions, share units and total monetary value during the week. A total of 41,240 shares of the bank were traded through 549 transactions valued at Rs 8,843,660.
The Nepse floor remained open for five working days under regular lot, in which shares of Nabil Bank Ltd, Standard Chartered Bank Nepal, Himalayan Bank Ltd, Nepal SBI Bank, Nepal Bangladesh Bank, Everest Bank Ltd, NIC Bank Ltd, Kumari Bank Ltd, Lumbini Bank Ltd, NCC Bank Ltd, Prudential Insurance Company, Nepal Life Insurance Company, Life Insurance Company, Nepal Merchant Banking and Finance and Nepal Sri Lanka Merchant Bank were traded.